CWA Asset Management Group LLC Lowers Stake in Casey’s General Stores, Inc. $CASY

CWA Asset Management Group LLC reduced its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,058 shares of the company’s stock after selling 2,295 shares during the period. CWA Asset Management Group LLC owned approximately 0.06% of Casey’s General Stores worth $13,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UNIVEST FINANCIAL Corp boosted its position in Casey’s General Stores by 157.2% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock valued at $4,366,000 after buying an additional 5,230 shares during the period. Franklin Resources Inc. raised its stake in shares of Casey’s General Stores by 0.3% during the second quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock valued at $361,727,000 after acquiring an additional 2,467 shares during the last quarter. West Bancorporation Inc. purchased a new stake in shares of Casey’s General Stores during the second quarter worth about $278,000. Corient Private Wealth LLC boosted its holdings in shares of Casey’s General Stores by 13.8% during the second quarter. Corient Private Wealth LLC now owns 186,357 shares of the company’s stock worth $95,068,000 after purchasing an additional 22,581 shares during the period. Finally, Kathmere Capital Management LLC bought a new stake in shares of Casey’s General Stores in the second quarter worth about $280,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $556.26 on Monday. The business’s fifty day moving average is $549.31 and its 200 day moving average is $535.33. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 34.21 and a beta of 0.67. Casey’s General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $575.98.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating the consensus estimate of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.85 earnings per share. Research analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Sunday, February 1st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, January 30th. Casey’s General Stores’s dividend payout ratio is 14.02%.

Analysts Set New Price Targets

A number of research firms have commented on CASY. Royal Bank Of Canada upped their price target on Casey’s General Stores from $570.00 to $591.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 10th. Jefferies Financial Group boosted their target price on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. The Goldman Sachs Group restated a “neutral” rating and set a $530.00 target price on shares of Casey’s General Stores in a report on Wednesday, December 10th. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Finally, Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $585.67.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.